$MPIX daily chart breakout in progress Ladies and

$MPIX daily chart breakout in progress

Ladies and gentlement it's almost lunch time on the east coast and the only thing holding MPIX back thus far is Citadel with about 1 million shares at .0031. If you take a look at the chart below you will see why they are positioned at that price for resistance. You have a trendline connecting the pivot lows from July and August right about at .003.

I think Citadel will be alone on this resistance point because it's a bit high risk for someone shorting. The safer area of resistance would be .004, just above the 50 day moving average, which is where you see the next 3 highest MM's waiting.

The day is not over though, so I am watching for the confirmation of this breakout, which would essentially be a close above the Friday high since it is the candle that initially pierced and closed above the 20 DMA.

As I said earlier, I did not think that the 20 DMA would be a very good resistance area because it fell into price, which is making a move off of a consolidation period of the lows. So, I am watching for first and foremost a close above the .0025 area. Second, I am watching for a close above .003. Third, I am watching for a move to .004. A move above .004 on a closing basis will mean that the stock has rallied from .0015 for over 250% and recaptured the 50 DMA. That will invite the momentum we need to start making the move back to the .0075 high and then onward to 2 cents.

[IMG]http://i.imgur.com/p4Hrq.png[/IMG]